EQUITYteam secures dual victory in the case of PJSC «Ukrincom»

The EQUITYteam won TWO COURT CASES in one of the most unique cases of the Ukrainian banking collapse.

The Commercial Court of Cassation of the Supreme Court, upheld EQUITY's position. The court rejected the National Bank of Ukraine's cassation appeal and confirmed the baselessness of the NBU's attempts to review court decisions and renew procedural deadlines after five years.

The EQUITYteam has been instrumental in facilitating these developments:

• The stability of the bankruptcy proceedings was maintained,ensuring the protection of both creditors' rights and the debtor's interests against procedural delays and undue satisfaction of claims.
• The approach adopted by courts is consistent with the jurisprudence of the Supreme Court Ukraine and the standards of the European Court of Human Rights concerning reasonable time limits and principles of good faith in judicial proceedings.

This marks yet another step in the systematic protection of PJSC «Ukrincom» from repeated attempts to challenge final judicial determinations - a course of legal defence that EQUITY has been pursuing for over 5 years!

The Commercial Court of Cassation also resolved the dispute with the Deposit Guarantee Fund regarding the appeal of registration actions against PJSC Ukrincom.

This dispute has been in progress since 2017, has undergone a change of jurisdiction, and has also been reviewed by the Administrative Court of Cassation.

Through this decision :

• The legal of corporate changes and the stability of entries in the Unified State Register are reaffirmed.
• The binding and final nature of prior judicial decisions concerning PJSC «Ukrincom» was confirmed.
• The attempts to initiate repetitive litigation through a change in jurisdiction and the duplication of identical claims were definitively precluded.

 We believe that reaching a resolution with the Deposit Guarantee Fund will enable us to direct our joint efforts toward collecting debts from debtors, with the aim of satisfying creditors' claims in the bankruptcy case.

The Ukrincom case represents a unique precedent within the Ukrainian legal system-a former bank restoring its solvency through a general insolvency procedure consistent with EU directives and the practices of leading EU jurisdictions.

We express our sincere appreciation to our client for their continued trust and to our client for their continued trust and to our team for their persistent and strategic legal work. EQUITY remains steadfast  in its commitment to the consistent defence of clients' rights and legitimate interests. 

The EQUITY team working on the project: managing partner Oleh Malinevskyi, counsel Dmytro Tylipskiy, and Lawyers Yaroslav Demchenko and Oleksii Kobal.